SBF Trial: Accountants 'Couldn't or Wouldn't' Audit Alameda, Caroline Ellison Says

The government's star witness is being cross-examined by defense attorneys who argue she, not Sam Bankman-Fried, was responsible for the fall of FTX and Alameda.

NEW YORK — While cross-examining witness for the prosecution Caroline Ellison, Sam Bankman-Fried’s lawyer hinted he would again try to pin the blame for the collapse of FTX and Alameda Research on her.

In the first hour of testimony Thursday morning in the trial of Bankman-Fried, defense counsel Mark Cohen asked Ellison if it was true that his client was absent for “long periods of time” while she was CEO at Alameda. She said it was.

He also asked if during those times, Ellison and Sam Trabucco, who at one point was her co-CEO, made decisions without Bankman-Fried’s input. She acknowledged they did.

This developing story will be updated frequently throughout the day.

This developing story will be updated frequently throughout the day.

Thursday is the third straight day of testimony for Ellison, 28, who sported the same gray blazer that she had worn the last two days.